The sole term of calling someone a "Bucket Kid" mean that you are describing that person as a BK, lowlife, and someone who just fucks up everything you do. Not only does a Bucket Kid do all that, but the 'Kid' also puts down everything you have achieved, worked for, and gotten all due to time. Basically this is a person you do not want to be.

The term was made and used by an elite group of gamers associated with the Halo 3 team Love and Cuddles. Sausage x J and uShift came up with the term.

Also known as a bad kid (Def. 3) or just simply "b.k.".
Someone who is not good at a particular video game.
Used in online play to describe usually younger, bad players.